Hyster-Yale Materials Handling (NYSE:HY) Downgraded to “Hold” at StockNews.com

StockNews.com lowered shares of Hyster-Yale Materials Handling (NYSE:HY) from a buy rating to a hold rating in a report released on Tuesday.

Other equities research analysts also recently issued research reports about the company. Roth Mkm restated a buy rating and set a $84.00 target price (down previously from $87.00) on shares of Hyster-Yale Materials Handling in a research report on Thursday, August 8th. Northland Securities upgraded Hyster-Yale Materials Handling from a market perform rating to an outperform rating and set a $90.00 target price on the stock in a research report on Wednesday, June 5th. Finally, Northland Capmk downgraded Hyster-Yale Materials Handling from a strong-buy rating to a hold rating in a research report on Wednesday, August 7th. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Hyster-Yale Materials Handling has an average rating of Moderate Buy and a consensus target price of $87.00.

Hyster-Yale Materials Handling Price Performance

Hyster-Yale Materials Handling stock opened at $59.68 on Tuesday. Hyster-Yale Materials Handling has a 12 month low of $38.50 and a 12 month high of $84.44. The company has a current ratio of 1.31, a quick ratio of 0.63 and a debt-to-equity ratio of 0.53. The business’s 50 day simple moving average is $65.80 and its 200 day simple moving average is $66.04. The company has a market cap of $1.04 billion, a price-to-earnings ratio of 6.92 and a beta of 1.31.

Hyster-Yale Materials Handling (NYSE:HY) last posted its quarterly earnings data on Tuesday, August 6th. The industrial products company reported $3.58 EPS for the quarter, beating the consensus estimate of $2.28 by $1.30. The business had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.08 billion. Hyster-Yale Materials Handling had a return on equity of 44.49% and a net margin of 4.13%. During the same quarter in the prior year, the business earned $2.21 earnings per share. Sell-side analysts forecast that Hyster-Yale Materials Handling will post 9.69 EPS for the current year.

Hyster-Yale Materials Handling Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were issued a $0.35 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.40 annualized dividend and a dividend yield of 2.35%. Hyster-Yale Materials Handling’s payout ratio is currently 16.22%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in HY. EntryPoint Capital LLC bought a new position in shares of Hyster-Yale Materials Handling in the first quarter worth $27,000. Quest Partners LLC increased its holdings in shares of Hyster-Yale Materials Handling by 6,692.3% in the second quarter. Quest Partners LLC now owns 883 shares of the industrial products company’s stock worth $62,000 after purchasing an additional 870 shares during the period. Itau Unibanco Holding S.A. bought a new position in shares of Hyster-Yale Materials Handling in the second quarter worth $67,000. DekaBank Deutsche Girozentrale increased its holdings in shares of Hyster-Yale Materials Handling by 67.8% in the first quarter. DekaBank Deutsche Girozentrale now owns 1,356 shares of the industrial products company’s stock worth $83,000 after purchasing an additional 548 shares during the period. Finally, Central Pacific Bank Trust Division bought a new position in shares of Hyster-Yale Materials Handling in the first quarter worth $190,000. Institutional investors own 46.47% of the company’s stock.

Hyster-Yale Materials Handling Company Profile

Hyster-Yale Materials Handling, Inc, through its subsidiaries, designs, engineers, manufactures, sells, and services a line of lift trucks, attachments, and aftermarket parts worldwide. The company manufactures components, such as frames, masts, and transmissions; and assembles lift trucks. It markets its products primarily under the Hyster and Yale brand names to independent Hyster and Yale retail dealerships.